Darden Restaurants, Inc is an American multi-brand restaurant operator headquartered in Orlando.
FactSnippet No. 1,667,081 |
Darden Restaurants, Inc is an American multi-brand restaurant operator headquartered in Orlando.
FactSnippet No. 1,667,081 |
Darden Restaurants later founded the Red Lobster Inns of America and opened the first Red Lobster restaurant in Lakeland, Florida in 1968.
FactSnippet No. 1,667,083 |
Darden Restaurants chose Lakeland because he wished to see how a seafood restaurant would fare in a non-coastal region, and Lakeland was the innermost city in Florida.
FactSnippet No. 1,667,084 |
In 1975, when Darden was promoted to Vice President of General Mills, Joseph R Lee, the company's first restaurant manager, was promoted as President of Red Lobster.
FactSnippet No. 1,667,085 |
Darden Restaurants underwent several restructurings and transformed itself from an inexpensive fast-food seller into a chain of casual dining seafood restaurants by 1988.
FactSnippet No. 1,667,086 |
In 1982, Darden Restaurants opened the first Olive Garden concept restaurant in Orlando.
FactSnippet No. 1,667,087 |
Darden Restaurants eventually became the largest chain of Italian-themed full-service restaurants in the United States.
FactSnippet No. 1,667,088 |
Darden Restaurants was spun off from General Mills beginning on May 9,1995, when it began trading on the when-issued basis at $9.
FactSnippet No. 1,667,089 |
Darden Restaurants became a fully separate entity on May 31,1995, when its shares went on sale on the NYSE.
FactSnippet No. 1,667,090 |
Darden Restaurants executives planned to have two additional chains in place by 1998.
FactSnippet No. 1,667,091 |
In March 1996, Darden Restaurants launched a test of a Bahama Breeze Caribbean Grille concept featuring food and drinks found in the islands of the Caribbean Sea and a Caribbean theme.
FactSnippet No. 1,667,092 |
Darden Restaurants then began testing a new concept entitled Smokey Bones BBQ Sports Bar that opened in late 1999 in Orlando.
FactSnippet No. 1,667,093 |
Darden Restaurants announced in January 2007 that the company was willing to expand by purchasing existing 100-location chains or even considering franchisors.
FactSnippet No. 1,667,094 |
In January 2011, Darden Restaurants announced co-locating their Olive Garden and Red Lobster brands in smaller markets to share kitchen but continue separate menus and eating areas.
FactSnippet No. 1,667,095 |
On December 23,2013, Darden Restaurants's stock rose 3 percent after activist investor Starboard Value, a hedge fund, took a stake in the company.
FactSnippet No. 1,667,096 |
On December 19,2013, Darden Restaurants announced plans to sell or spin off the Red Lobster brand, citing pressure from stock investors.
FactSnippet No. 1,667,097 |
On May 12,2014, Darden Restaurants announced that as part of the spinoff of Red Lobster, it was converting the co-located Red Lobster and Olive Garden locations into standalone Olive Garden locations.
FactSnippet No. 1,667,098 |
On May 16,2014, Darden Restaurants announced it would be selling the Red Lobster seafood restaurant chain to Golden Gate Capital for US$2.
FactSnippet No. 1,667,099 |
Darden Restaurants announced the completion of the sale of Red Lobster on July 28,2014.
FactSnippet No. 1,667,100 |